{
 "as_of": "2026-11-08",
 "cmr": "us-cm-kg/NYSE/BH-A",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# Biglari Holdings Inc. (NYSE: BH-A) — research page\n\nAs of 2026-11-08 · us-cm-kg · record version 1\n\n## Identity and listing\n\nBiglari Holdings Inc. is listed on the NYSE under ticker BH-A. The LEI is 549300GLWWSODF8TM682 and the ISIN is not on the record, as GLEIF maps no US ISIN to this LEI. The security type is Corporate, the sector is 5812 Retail-Eating Places, and the jurisdiction is United States, Indiana. The segment is not on the record. The issuer is listed and not halted.\n\n## The disclosure read\n\nThe record holds 44 filings across 36 filing days in the window 2025-11-08 to 2026-11-08. Of these, 21 are directors' dealings, 10 are regulatory filings, 9 are results, 2 are AGM/EGM, 1 is corporate news and 1 is a prospectus. The median gap between filing days is 5 days, against a median of 6.0 days for NYSE issuers and 6.0 days for the sector. The latest filing is dated 2026-11-06 and is of type results, 2 days before the record date. Median latency is 4.0 days for NYSE issuers and 5.0 days for the sector. The median filing count is 64.0 for NYSE issuers and 66.0 for the sector.\n\n## Auditor\n\nThe auditor of record is DELOITTE & TOUCHE LLP, located in Austin, Texas. The record holds no auditor changes.\n\n## Events and halts\n\nThe record holds no listing, delisting, name change or segment move lines. The domicile change is not on the record, as EDGAR states no dated change of state of incorporation on a filing line. The segment move is not on the record, as the exchanges' tier transfers are not EDGAR filings. The issuer is listed and not halted.\n\n## Orderability\n\nThe outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nNo research houses were found on the issuer's investor-relations page.\n\n## Open research\n\nNo openly published research notes were found on the record.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe vintage is sealed. The sealed years holding the issuer are 2021, 2022, 2023, 2024, 2025 and 2026. The market's earliest sealed date is 2021-01-04. The live record began on 2026-09-12.\n\n## Sources\n\n8 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.sec.gov/files/company_tickers_exchange.json (identity.exchange)\n- https://data.sec.gov/submissions/CIK0001726173.json (identity.jurisdiction)\n- https://api.gleif.org/api/v1/lei-records/549300GLWWSODF8TM682 (identity.lei)\n- https://mcp.us-cm-kg.ai/events/NYSE/BH-A (the disclosure lines)\n- https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts (the halt flag)\n- https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm (the auditor)\n- https://mcp.us-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://mcp.us-cm-kg.ai/record/NYSE/BH-A (the record)\n",
 "market": "US",
 "node": "us-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ],
   "live_record_began": "2026-09-12",
   "node_history_from": "2021-01-04",
   "node_years_sealed": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ],
   "record_version": 1,
   "sealed": true
  },
  "auditor": {
   "auditor": {
    "read_by": "EDGAR 10-K cover page iXBRL tag (dei:AuditorName, dei:AuditorLocation, dei:AuditorFirmId, dei:DocumentPeriodEndDate)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm",
    "state": "sourced",
    "value": "DELOITTE & TOUCHE LLP"
   },
   "auditor_firm_id": {
    "market": "US",
    "state": "not_on_record"
   },
   "auditor_location": {
    "read_by": "EDGAR 10-K cover page iXBRL tag (dei:AuditorName, dei:AuditorLocation, dei:AuditorFirmId, dei:DocumentPeriodEndDate)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm",
    "state": "sourced",
    "value": "Austin, Texas"
   },
   "changes": []
  },
  "cmr": "us-cm-kg/NYSE/BH-A",
  "coverage": {
   "count": 0,
   "houses": [],
   "pages_checked": [],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-11",
   "since": null,
   "state": "none_found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 3256,
     "median_cadence_gap_days": 6,
     "median_filings": 64,
     "median_latency_days": 4,
     "name": "NYSE"
    },
    "sector": {
     "issuers": 46,
     "median_cadence_gap_days": 6,
     "median_filings": 66,
     "median_latency_days": 5,
     "name": "5812 Retail-Eating  Places"
    }
   },
   "by_type": {
    "agm_egm": 2,
    "corporate_news": 1,
    "directors_dealings": 21,
    "prospectus": 1,
    "regulatory_filing": 10,
    "results": 9
   },
   "cadence_median_gap_days": 5,
   "filing_days": 36,
   "filings": 44,
   "latency_days": 2,
   "latest": [
    {
     "category": "8-K",
     "date": "2026-11-06",
     "source": "https://www.sec.gov/Archives/edgar/data/1726173/000162828026071734/bh-20261106.htm",
     "title": "8-K — 8-K (items 2.02,9.01)",
     "type": "results"
    },
    {
     "category": "10-Q",
     "date": "2026-11-06",
     "source": "https://www.sec.gov/Archives/edgar/data/1726173/000162828026071730/bh-20260930.htm",
     "title": "10-Q — 10-Q",
     "type": "results"
    },
    {
     "category": "4",
     "date": "2026-11-06",
     "source": "https://www.sec.gov/Archives/edgar/data/1726173/000092189526002954/xslF345X06/form408106005_11062026.xml",
     "title": "4 — OWNERSHIP DOCUMENT",
     "type": "directors_dealings"
    },
    {
     "category": "SCHEDULE 13G",
     "date": "2026-11-06",
     "source": "https://www.sec.gov/Archives/edgar/data/1726173/000031206926000254/xslSCHEDULE_13G_X02/primary_doc.xml",
     "title": "SCHEDULE 13G",
     "type": "regulatory_filing"
    },
    {
     "category": "4",
     "date": "2026-10-20",
     "source": "https://www.sec.gov/Archives/edgar/data/1726173/000092189526002832/xslF345X06/form408106005_10202026.xml",
     "title": "4 — OWNERSHIP DOCUMENT",
     "type": "directors_dealings"
    }
   ],
   "latest_filing_date": "2026-11-06",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.us-cm-kg.ai/events/NYSE/BH-A",
   "window": {
    "from": "2025-11-08",
    "to": "2026-11-08"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "NYSE"
   },
   "isin": {
    "market": "US",
    "reason": "GLEIF maps no US ISIN to this LEI",
    "state": "not_on_record"
   },
   "jurisdiction": {
    "read_by": "EDGAR submissions API (issuer header as filed) (stateOfIncorporation)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001726173.json",
    "state": "sourced",
    "value": "United States — Indiana"
   },
   "lei": {
    "read_by": "GLEIF name-exact (jurisdiction US-IN; GLEIF golden copy 2026-09-12)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://api.gleif.org/api/v1/lei-records/549300GLWWSODF8TM682",
    "state": "sourced",
    "value": "549300GLWWSODF8TM682"
   },
   "name": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001726173.json",
    "state": "sourced",
    "value": "Biglari Holdings Inc."
   },
   "sector": {
    "read_by": "EDGAR submissions API (issuer header as filed) (SIC code as assigned by the SEC)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001726173.json",
    "state": "sourced",
    "value": "5812 Retail-Eating  Places"
   },
   "security_type": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001726173.json",
    "state": "sourced",
    "value": "Corporate"
   },
   "segment": {
    "market": "US",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "BH-A"
   },
   "website": {
    "market": "US",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": [],
   "domicile_change": {
    "market": "US",
    "reason": "EDGAR states no dated change of state of incorporation on a filing line",
    "state": "not_on_record"
   },
   "listing": [],
   "name_change": [],
   "segment_move": {
    "market": "US",
    "reason": "the exchanges' tier transfers are not EDGAR filings",
    "state": "not_on_record"
   }
  },
  "market": "US",
  "node": "us-cm-kg",
  "numbers_hash": "sha256:64c2d90f49968a7b6469472d71c669845b6611db6b9406730c92365689a9dc85",
  "open_research": {
   "read_date": "2026-11-11",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [],
   "determinable": false,
   "read": {
    "chapter": "https://mcp.us-cm-kg.ai/book/aio.json",
    "door": "https://mcp.us-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "reason": "the chapter's orderability section carries no client_categories: the outcome cannot name its client category",
   "rule_version": "acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1",
   "section": "us.aio.v8"
  },
  "record": {
   "as_of": "2026-11-08",
   "url": "https://mcp.us-cm-kg.ai/record/NYSE/BH-A",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-08",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:64c2d90f49968a7b6469472d71c669845b6611db6b9406730c92365689a9dc85",
 "path": "/us/NYSE/BH-A",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "Biglari Holdings Inc. is listed on the NYSE under ticker BH-A. The LEI is 549300GLWWSODF8TM682 and the ISIN is not on the record, as GLEIF maps no US ISIN to this LEI. The security type is Corporate, the sector is 5812 Retail-Eating Places, and the jurisdiction is United States, Indiana. The segment is not on the record. The issuer is listed and not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 44 filings across 36 filing days in the window 2025-11-08 to 2026-11-08. Of these, 21 are directors' dealings, 10 are regulatory filings, 9 are results, 2 are AGM/EGM, 1 is corporate news and 1 is a prospectus. The median gap between filing days is 5 days, against a median of 6.0 days for NYSE issuers and 6.0 days for the sector. The latest filing is dated 2026-11-06 and is of type results, 2 days before the record date. Median latency is 4.0 days for NYSE issuers and 5.0 days for the sector. The median filing count is 64.0 for NYSE issuers and 66.0 for the sector.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is DELOITTE & TOUCHE LLP, located in Austin, Texas. The record holds no auditor changes.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "The record holds no listing, delisting, name change or segment move lines. The domicile change is not on the record, as EDGAR states no dated change of state of incorporation on a filing line. The segment move is not on the record, as the exchanges' tier transfers are not EDGAR filings. The issuer is listed and not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "No research houses were found on the issuer's investor-relations page.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found on the record.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The vintage is sealed. The sealed years holding the issuer are 2021, 2022, 2023, 2024, 2025 and 2026. The market's earliest sealed date is 2021-01-04. The live record began on 2026-09-12.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "8 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.sec.gov/files/company_tickers_exchange.json"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://data.sec.gov/submissions/CIK0001726173.json"
  },
  {
   "for": "identity.lei",
   "source": "https://api.gleif.org/api/v1/lei-records/549300GLWWSODF8TM682"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.us-cm-kg.ai/events/NYSE/BH-A"
  },
  {
   "for": "the halt flag",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts"
  },
  {
   "for": "the auditor",
   "source": "https://www.sec.gov/Archives/edgar/data/1726173/000162828026012987/bh-20251231.htm"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.us-cm-kg.ai/book/aio.json"
  },
  {
   "for": "the record",
   "source": "https://mcp.us-cm-kg.ai/record/NYSE/BH-A"
  }
 ],
 "title": "Biglari Holdings Inc. (BH-A) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}